secwatch.observer — SEC 8-K summary
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Issuer:     Cerence Inc. (CRNC)
CIK:        0001768267
Form:       8-K
Filed at:   2022-08-09T23:59:59+00:00
Accession:  0000950170-22-015779
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cerence reports Q3 FY22 GAAP net loss of $99.3M; revenue down 8% YoY to $89M
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- GAAP net loss of $99.3M ($2.53 diluted loss per share); non-GAAP net income of $17.0M ($0.43 diluted EPS)
- Revenue of $89.0M, down 8% from $96.8M in Q3 FY21; GAAP gross margin 72.8%
- Record professional services revenue; secured a win back from Big Tech
- Non-GAAP operating margin 29.4% vs 37.7% a year ago; adjusted EBITDA margin 32.0%
- Nine-month revenue $269.7M vs $289.1M; non-GAAP net income $55.9M vs $78.8M

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1768267/000095017022015779/0000950170-22-015779-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1768267/000095017022015779/crnc-20220809.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-015779

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